Upsurge in referrals bolsters Ally Law
Hong Kong, 22 May 2020: Global legal services organisation Ally Law is in a strong position to ride out the coronavirus storm after reporting a significant increase in referral business between member firms in 2019.
The value of referrals rose 33% from US$4.4 million in 2018 to almost US$5.9 million last year, the group’s AGM was told. Firms in Asia Pacific enjoyed a particularly robust showing, with outbound referrals leaping 220% and incoming business soaring 75%.
Boase Cohen & Collins Senior Partner and past Ally Law President Colin Cohen has welcomed the figures, saying: “With Covid-19 obviously set to hit law firm revenues in 2020 it is excellent news that we finished the last calendar year in such good shape. Our member firms are not only well established, they are durable and innovative and so can adapt to this current situation.
“As well, as it enters its fourth decade of operations, Ally Law has reported healthy finances. Overall, both the global organisation and its firms are well placed to weather the pandemic while maintaining the rigorous client service standards for which they are renowned. While the coronavirus is taking its toll on global business, Ally Law has never been stronger.”
In his report as Chairman of the Expansion Committee, Colin highlighted Ally Law’s continuing growth in its three major regions, Asia Pacific, the Americas, and Europe, the Middle East and Africa. Now numbering 70-plus independent firms in more than 40 jurisdictions, the group has welcomed eight new firms since last year’s AGM in New Delhi and is targeting 10 incoming members this year.
“In Asia Pacific we are keen to source firms in the fast-emerging markets of Laos and Cambodia while Africa is another priority with a particular focus on South Africa and Egypt. We have strong representation across Europe and North America but acknowledge there is still room for expansion in those areas. We have enjoyed 30% growth since 2015 and we aim to keep up the momentum,” he said.
With the coronavirus causing this week’s AGM in Vancouver to be called off, delegates instead held the required business meetings via video conferencing. “Attendance was high and meetings proceeded smoothly with few technical issues,” confirmed Colin.
Boase Cohen & Collins is Hong Kong’s sole representative in Ally Law, which utilises close co-operation between members to help clients overcome their international legal and business challenges.
Ally Law’s rapid response to clients’ needs has seen the organisation launch its COVIDAlly blog to deliver first-hand information, insights and resources about the coronavirus pandemic. The microsite is a one-stop resource designed to help clients prevent, respond to, and mitigate the effects of Covid-19 in what has morphed into a worldwide medical, business and economic challenge.
Ally Law’s global network of law firms has grown 30% in the past five years.
